This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The statement: If everyone trades in the competitive marketplace, all mutually beneficial trades ... (Read 945 times)

Jramos095

  • Hero Member
  • *****
  • Posts: 528
on: Jul 1, 2018
The statement: If everyone trades in the competitive marketplace, all mutually beneficial trades will be completed, and the resulting equilibrium allocation of resources will be economically efficient. is formally known as:
 
  A) the law of supply and demand.
  B) the first theorem of supply and demand.
  C) the first theorem of welfare economics.
  D) the first theorem of efficiency in economics.

Question 2

Use the data in the table below to answer the following questions about a firm.
 
  Units of Units of Total Marginal Output
   Input X Input Y Product Product of X Price
 
   0 25 0 10
   1 25 2 10
   2 25 7 10
   3 25 14 10
   4 25 20 10
   5 25 23 10
   6 25 24 10
 
  a. Complete the table by calculating the marginal product of input X.
  b. Compute the marginal revenue produce of input X.
  c. If the price of input X were 30 per unit, how many units should the firm use per unit of time to maximize profit? Explain why profit is maximized.
Statistics, Data Analysis, and Decision Modeling ¦ Evans ¦ 5th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

lkoler

  • Sr. Member
  • ****
  • Posts: 358
Reply #1 on: Jul 1, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 29% of students answer this correctly


Harps johnston

  • Newbie
  • *
  • Posts: 1
Reply #2 on: Jul 25, 2022
thank you


« previous next »
 

Did you know?

The familiar sounds of your heart are made by the heart's valves as they open and close.

Did you know?

In 1864, the first barbiturate (barbituric acid) was synthesized.

Did you know?

Human neurons are so small that they require a microscope in order to be seen. However, some neurons can be up to 3 feet long, such as those that extend from the spinal cord to the toes.

Did you know?

More than 4.4billion prescriptions were dispensed within the United States in 2016.

Did you know?

It is important to read food labels and choose foods with low cholesterol and saturated trans fat. You should limit saturated fat to no higher than 6% of daily calories.

Non-competitive inhibition Non-competitive inhibition
The correct statement about hormones-insulin and glucagon The correct statement about hormones-insulin and glucagon
Example of Reconciling a Bank Statement Cont. Example of Reconciling a Bank Statement Cont.
Stone Massage: Beneficial Effects, Therapeutic Uses, and Contraindications Stone Massage: Beneficial Effects, Therapeutic Uses, and Contraindications
Reconstruction Drawing of the Agora (Marketplace), Athens Reconstruction Drawing of the Agora (Marketplace), Athens
Competitive firms and maximization Competitive firms and maximization
Video: Membrane transport proteins - pores, gated channels and pumps

For a complete list of videos, visit our video library